Working Around The Clock

April 9th, 2009

Chrysler is working around the clock to kiss the government’s butt.

Chrysler is working around the clock to complete an alliance with Italy’s Fiat SpA (FIA.MI) that would also result in a new board for the U.S. automaker, Vice Chairman Jim Press said on Wednesday.

Chrysler, about 80 percent controlled by Cerberus Capital Management (CBS.UL), was given until the end of April by the U.S. autos task force to complete an alliance with Fiat that would give it access to small car technology it now lacks.

Absolutely amazing. Do they really think having “small car technology” will save Chrysler?

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Posted in Mergers

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